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Past experience indicates that 17% of total accounts receivable will eventually be uncollectible for Sheffield Rental Company. Selected general ledger account balances at December 31,
Past experience indicates that 17% of total accounts receivable will eventually be uncollectible for Sheffield Rental Company. Selected general ledger account balances at December 31, 2023, and December 31. 2024. appear below: Record the following events in 2024: (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. n. Aug 10 Determined that the account of Henry Hum for $2,700 is uncollectible. Oct. 10 Received a cheque for $1,944 as payment on account from Henry Hum, whose account had previously been written off as uncollectible. He indicated the remainder of his account would be paid in November. Nov 15 Received a cheque for $756 from Henry Hum as payment on his account. Prepare the adjusting entry to record bad debt expense for the year ended Decernber 31, 2024. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Gredit account titles are automatically indented when the amount is entered. Do not indent manually list debitentry beiore crealt entins. What is the balance of Allowance for Doubtful Accounts at December 31, 2024? Balance of Allowance for Doubtful Accounts at December 31, 2024, is $
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